Markets red despite good overseas cues

Indian markets ended in the negative zone for the second consecutive trading session despite good cues from overseas markets. While the S&P BSE Sensex closed 114.77 points lower (-0.41%) at 28,106.21, the Nifty 50 ended 34.4 points down (-0.39%) at 8709.55.

“Key benchmark indices were volatile on Thursday and reversed intra day gains in mid-afternoon trade to hit fresh intra-day lows. Overseas markets on the other hand traded robust as a healthy US economic report and rising oil prices overnight gave a fillip to investor optimism,” BNP Paribas MF fund manager Shreyash Devalkar said.

 As far as advance and declines are concerned, out of a total of 1,683 securities on NSE, 1,005 declined and 619 declined. 141 securities hit new 52-week highs while 14 hit new 52-week lows on the NSE.

 Bank of Baroda was the top loser on Nifty 50, ending down 2.89% at Rs 164.55 with volumes of 66.97 lakh shares. Other losers included Cipla, Power Grid, M&M, NTPC and Ultratech Cements. GAIL topped the list of gainers with a gain of 3.55%.